CMC News

$XMR Surges 7% Despite 18-Block Network Reorganization

Monero's privacy token gained over 7% despite suffering an 18-block blockchain reorganization that reversed approximately 117 transactions. The security incident occurred through the Qubic team's continued attacks on the #Monero network.

The reorganization began at block 3499659 on Sunday at 5:12 a.m. UTC and concluded 43 minutes later at block 3499676. Node operators confirmed the breach through command-line console data shared across social platforms.

Qubic previously conducted a six-block reorg last month after achieving 51% hashrate control over #Monero mining operations. The AI-focused blockchain team maintains significant influence over the privacy network's security.

$XMR traded relatively stable during the reorganization period before rallying from $287.54 to $308.55 hours later. The token's performance contrasted sharply with broader market declines of approximately 1% on Sunday.

Community members expressed growing concerns over network reliability following repeated security breaches. Some merchants announced the suspension of $XMR payment acceptance until stability issues are resolved.

Cryptocurrency protocol researchers suggest implementing DNS checkpoints as a temporary solution to prevent future reorganizations. However, this approach introduces centralization elements that conflict with #privacy coin principles.

The 18-block reorganization exceeded Monero's standard 10-block protection mechanism designed to safeguard against smaller attacks. Despite security challenges, $XMR maintained relatively strong performance since the initial Qubic takeover reports in July.